Everything you do will be stored online. Notes and documents will be synced to Google Docs.

No native applications.

The current build can be compiled and installed on any machine.

An App store is likely & no word on weather it will support Android apps, nothing certain but maybe.

Some screen shots of Chrome OS:

The tabs in the top left are your favourite applications ‘pinned’ for quick access. The notepad in the right bottom corner is you creating a note on your PC & the main screen is showing that the notepad is synced to Google Docs:

Here’s a PDF from Google Books running on the PC:

Accessing the different programs on Chrome OS:

Here is a video of a netbook booting into Chrome OS, apparently the speed is quite good:

I’m not sold to Chrome not because of my bias towards Microsoft, but simply because of the fact that the Internet in India is pathetic and if all of my computing is based on the cloud, I’m doomed.

UPDATE: Here’s a video uploaded by Google on their Youtube page:

You can download a compiled Chrome OS ISO.

NOTE: I have not tried it, I’ve just started the download, so in case it’s a fake, I’m not responsible.

It seems to be a fake, lemme search around.

UPDATE: gdgt has uploaded a vmdk file that can be used with VMware or Virtual Box & can be converted to be used with Virtual PC.

UPDATE #2:

So I downloaded the vmdk file and tried the current build and here’s what I found:

Unfortunately there’s nothing one can do except browse the Internet.

You can’t login to the PC unless you’re connected to the Internet.

Since you need a google.com email id to access applications you don’t have access to any of that as the general public doesn’t get @google.com email id. Chances are in later builds this will open up for @gmail.com accounts.